Keppel reports 30% jump in Q3 earnings

The revenue of Keppel Corporation climbed 10.8 per cent to $1.62 billion.
The revenue of Keppel Corporation climbed 10.8 per cent to $1.62 billion.PHOTO: REUTERS

SINGAPORE - Keppel Corporation has posted a 30 per cent jump in third-quarter earnings to $291.8 million, propped up by higher contributions across all its businesses except for the offshore and marine division.

Revenue climbed 10.8 per cent to $1.62 billion.

The improved quarterly performance was thanks to higher profits from China and Vietnam property trading, the power and gas and asset management businesses, as well as the sale of investments, which more than offset lower contributions from the offshore and marine division and associated companies, said Keppel in a statement on Thursday.

Earnings per share rose 29 per cent to 16 cents, while net asset value per share was up 2.2 per cent to $6.56 as at Sept 30, compared with $6.42 as at Dec 31 last year.

Keppel shares closed 1.5 per cent or 11 cents lower at $7.02 on Thursday, before the results were announced.